Examples of Net Orderly Liquidation Value in a sentence
The value of any Eligible Equipment which is added to or removed from the Collateral shall be its Net Orderly Liquidation Value, and to the extent that any such Eligible Equipment was not appraised during the twelve (12) months preceding its addition or removal, such equipment shall be valued at the Interim Assigned Value.
NET ORDERLY LIQUIDATION VALUE OF ELIGIBLE INVENTORY FACTOR shall mean, at any time of determination, the ratio of the Net Orderly Liquidation Value of Eligible Inventory to the aggregate value of Eligible Inventory (valued at the lower of cost of market on a first in, first out basis), expressed as a percentage.
Whenever a Default or Unmatured Default exists and is continuing, and the Agent requests, at such other times as set forth herein, the Loan Parties shall, at their sole expense, provide the Agent with appraisals or updates thereof of their Compression Units from an Approved Appraiser, and prepared on a basis satisfactory to the Agent (which basis, in the absence of a Default or Unmatured Default that is continuing, shall for all purposes be the Net Orderly Liquidation Value thereof).
INVENTORY BORROWING BASE shall mean, at any time of determination, the lesser of (a) up to sixty percent (60%) of the aggregate value of Eligible Inventory, valued at the lower of cost or market on a first in, first out basis, (b) up to eighty-five percent (85%) of the product of (i) the Net Orderly Liquidation Value of Eligible Inventory Factor times (ii) the aggregate value of Eligible Inventory, valued at the lower of cost or market on a first in, first out basis, or (c) the Accounts Borrowing Base.